The Los Angeles Dodgers’ owners are looking to sell partial share of the team. According to Scott Soshnick of Bloomberg, Dodgers have retained investment banker Sal Galatioto of Galatioto Sports Partners to manage the sale process.
It is said that the Dodgers are not in any hurry to sell. Also, Mark Walter’s will remain the controlling owner of the Dodgers, with his partners from the Guggenheim Baseball Management.
What are Dodgers looking to gain from the sale?
In 2016, the Chicago Cubs sold a minority share of their team. Cubs ownership used the money to make improvements to Wrigley Field. Based on what the Cubs did we can speculate that the Dodgers could be looking at doing something similar, using the money to make improvements to Dodgers Stadium.
The motive for sale is still unclear but with the strong fan base coupled with the 25-year $8.3 billion T.V. deal signed with SportsNet LA should entice all interested parties.
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